China's sovereign wealth fund is negotiating to seek a stake in Australia's largest dairying operation, the Van Diemen's Land Company, which operates in Tasmania. The enterprise, which is in the north-west of the state, has 25,000 dairy cows and 6500 beef cattle and some 19,000 hectares in 27 farming operations, most of them dairying. It employs about 160 people.
It is now proposing to double its production and its workforce, with a $180 million investment. It is understood that the sovereign wealth fund has approached the Foreign Investment Review Board for preliminary consultations, prior to submitting a formal application if a deal is sealed...............................................Full Article: Source